VAT Compliances

While it’s still early days to make sure of the compliance standards related to VAT in Dubai UAE, there are some compliance rule and guidelines that you must know. You can get Service and information about VAT exemptions, threshold limit.

Know Details about VAT registration.

There are some General Terms for VAT compliance is Below.

A. Who will have to register?
Ans: An company or businesses which provide taxable goods or services with annual revenue of more than Dh 375, 000. They are required to register for VAT. Those with taxable supplies below Dh375, 000 but over Dh187, 500 will have the option to register for it.

B. Which Type company can Pay VAT?
1. Companies with annual revenue above Dh 375, 000.
2. All sales of commercial property by VAT payers will attract VAT.
3. Commercial tenants can expect to pay taxes.

C. Is there any Tax exemptions for any Company or Business. ?
Yes.
1. Companies provide health and education services.
2. Property developers and the first sale of there developed new homes will not pay tax.
3. Residential tenants’ leases are tax-free.

These entities VAT tax can claim back they paid to the government.

D. How often do need to file VAT returns?
Ans: For most businesses, every three months and it can do online.

E. What about importers and re-exporters?

If goods are imported in UAE and set for re-exportation (with paperwork to prove), it will not attract VAT in UAE, only customs duties. In case the destination of goods coming in UAE is uncertain, they will attract VAT in UAE.

Maintaining books of account under UAE VAT law is mandatory.

Government Authorities can ask for other supportive documents like invoices, general ledger. If need vat compliance agency. Contact us.